Preparing to Manage Challenging Credits Through a Down Cycle
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Preparing to Manage Challenging Credits Through a Down Cycle
By Steven Migliero, Co-CEO, Crystal Capital
Many non-bank direct lenders and others are asking, “Are we ever going to have a recession?” The obvious answer to that question is yes, but no one knows when. Risk appears to be extremely underpriced. Leverage lending multiples and advance rates on asset-based transactions are at all-time highs...
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Steven Migliero is co-CEO of Crystal Financial. Previously he was a senior managing director responsible for leading the firm’s originations team in sourcing and structuring new investments. Migliero has more than 20 years of experience working with middle-market companies and private equity sponsors as a cash flow and asset-based lender. Before joining Crystal, he was a senior vice president of originations in GE Capital’s Sponsor Finance Group, responsible for originating and structuring secured debt investments for sponsor-backed companies.
